Potential £17m income boost for Bradford Council from new entertainment venue
Bradford Council said it has signed a 25-year lease with Bradford Live operator, Trafalgar Entertainment, which could boost its income by up to £17m.
Trafalgar Entertainment was revealed as the new operator of Bradford Live earlier this year. Bradford Live is a 3,000-plus seated and 3,500-plus standing capacity music, comedy, events and entertainment venue, together with event spaces.
The former Odeon Cinema was originally built in 1930s. Following a long period of dereliction when the building disused, the prominent art deco property was rescued from demolition and has now been fully restored with a £50m investment.
The council has confirmed it will receive a guaranteed annual rental income for the venue, as well as an additional profit-share arrangement council up to around £17m over the life of the lease.
The council added that the wider regeneration delivered through the success of Bradford Live will also drive significant economic growth across the district, creating new jobs, supporting businesses and increasing business rate income for the council.
The first evening concert at the venue has been announced for 1 August as Bradford and Ilkley host this year’s Yorkshire Day celebrations. The Yorkshire Symphony Orchestra and the BBC Bantam of the Opera choir will be performing as part of the wider programme of City of Culture festivities.
Councillor Susan Hinchcliffe, leader of Bradford Council, said: “Now that Trafalgar Entertainment are confirmed as the operators, we are happy to reveal the details of the contract. This project is about so much more than the money though; Bradford Live is a building the people of Bradford campaigned to save, and we did. It’s a building of social and cultural significance which has now been restored as one of the premier venues in the country with a bright future ahead under the expert management of Trafalgar Entertainment, who we’ve been delighted to welcome to Bradford.
“We’re also delighted to be hosting Yorkshire Day during our year as UK City of Culture and what better way to celebrate than the first concert at Bradford Live celebrating all things Yorkshire. This is just a taste of all the amazing things to come at this stunning venue and we’re all looking forward to seeing the main programme of events being announced by Trafalgar in the near future”
